Industry
Qualcomm pivots to AI data centers as smartphone sales slump
Qualcomm reported a 20% drop in smartphone sales compared to 2025, prompting a strategic shift toward AI data centers. The company announced partnerships with Amazon and Meta and forecasts $650 million in data center revenue for Q1 2027, growing to $5 billion by end of 2027 and $15 billion by 2029. This move aims to offset declining handset revenue.
QualcommAI data centersearnings